Toyo Tire U.S.A. Corp. will increase the dealer base prices on passenger car, light truck and commercial truck tyre patterns by up to 10 per cent. According to the company, the price increase is a result of continued increases in raw materials and logistics costs.
Toyo Tires is extending its support as main partner of the UCI World Cup Cyclo-Cross for the upcoming 2021-2022 season. Together with the UCI, Flanders Classics and the other main partners, Toyo Tires is continuing to “build on the growing international appeal of this elite sport.”
Toyo Tyre Australia Pty Ltd., the Australian sales subsidiary of Toyo Tire Corporation, will wind up its rubber mixing business as of 13 December 2021. The closure of the 1974-established operation directly affects 36 of the 107 people employed (as of 31 December 2020) by Toyo Tyre Australia.
Following the publication of stronger than expected second-quarter 2021 financial results that returned the bottom line to profitability despite pandemic- and seismic-rubber-related headwinds, Toyo published a statement ramping up its full-year 2021 estimates. See accompanying table (below) for further details.
Toyo Tire Corporation has re-examined and updated its natural rubber procurement policy and established this as an independent policy separate from the company’s CSR Procurement Guidelines that prescribe the proper procurement process for the Toyo Tire Group (the Group).
Toyo Tire Corporation shares that as of 1 July 2021, its Europe Project Development Department will cease being directly managed by the company’s Business Headquarters and will be transferred to the Production Headquarters, where it will be placed under the Headquarters Division.
As of 1 August 2021, Toyo Tire USA is increasing its prices “across all tyre categories” by up to 8.5 per cent.
Toyo Tire U.S.A. Corp. has announced that it will increase the dealer base prices across all tyre categories by up to 8.5 per cent from 1 August 2021. The tyre maker comments that the price increase “is a result of continued increases in raw materials and logistics costs.”
Toyo Tire is heading to the Nürburgring for the 49th ADAC Total 24H Race on 3-6 June 2021. The Japanese tyre manufacturer will supply specially developed tyres to Novel Racing, following up its entry in the delayed 2020 edition of the race for which it signed a partnership agreement with Toyo. Toyo developed its new rubber for Novel’s Lexus RC F and Toyota Supra GT4, entries tuned by Nürburgring based Ring Racing, which has been building cars for the circuit for more than a decade.
The eleven leading tyre manufacturer members of WBCSD’s Tire Industry Project (TIP) have launched a Roadmap to accelerate tyre value-chain impact on the Sustainable Development Goals (SDGs). The SDGs were adopted by all United Nations Member States in 2015 to address some of the world’s most pressing issues by 2030. The members of TIP, in alphabetical order, are: Bridgestone, Continental, Cooper Tire, Goodyear, Hankook, Kumho Tire, Michelin, Pirelli, Sumitomo Rubber, Toyo Tires, and Yokohama Rubber.
Toyo Tire Corporation’s 2021 to 2025 ‘Mid-term ’21 plan’ indicates the brand’s intentions for its new Serbian plant, due to commence production in April 2022. The Japanese brand says the facility will not merely offer “local production for local consumption.” It says the plant will play a major role in further international expansion, becoming by far its most cost-effective.
Some 600 athletes from across Europe are heading to Toruń, Poland for the European Athletics Indoor Championships 2021, which will take place between 5 and 7 March. Toyo Tires returns as an official partner, continuing the relationship that began at the event held in Berlin three years ago.
Toyo Tire Corporation is closing its loss-making wholly-owned Silverstone Berhad Malaysian tyre manufacturing subsidiary in June 2021. Established on 12 July 1986 and purchased by Toyo in 2011, Silverstone currently manufactures tyres for (primarily Malaysian) new vehicles and Silverstone branded tyres for the aftermarket as well as certain Toyo branded tyres. The dissolution of the Silverstone subsidiary (Silverstone Berhad) will commence by 31 December 2021.
As part of a range of structural changes taking effect on 1 April, Toyo Tires will draw upon its experiences making tyres for the demanding European market in order to benefit its development programme for other regions. The tyre maker is integrating its Europe/Module Development department, which currently operates under the Technology Development division within its R&D Headquarters, into the R&D Headquarters’ Replacement Tire Development department.
It is not easy for tyre businesses to take away something positive from the past year. In retrospect, Toyo Tires came to the conclusion: “2020 was anything but a glorious year for the tyre industry. A slump in new registrations and also double-digit declines in the replacement market business. There were no dealers and no manufacturers who did not have to struggle with losses in the past year.” Nevertheless, Toyo Tires Europe is starting the new year “confidently”, according to the Germany-based European headquarters of the Japanese tyre manufacturer.
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